All abt starting a sub-broking/Franchaise

[nagesh.kn]

Ankit, you can also email me at nagesh . kumbhakonam @ gmail

 

[gulshanranjan]

absolutely fine, Your degree is enough for paper work of sub-broking & there is officially no requirement of any exp to become a sub-broker, bnot at all mandatory but i know for a fact, without exp in trading u cant survive, so i added it. if u know trading & understand mkt, u can begin it. althrough u wil b required to have NCFM certificate if u want to install ODIN terminakl at ur place for all d clients.

Basically if u can find few really gud trader, theyw il take care of their own tardes & ur volume, so good trader is always a added advantage & u wil b also benefitting by them.


Wish u all d luck...
Gulshan Ranjan

Thanks a lot Ranjan for your offer to help.

I just had this doubt for now.

I have done Degree through open university(I have no 12th or PUC) so is it fine?? and you mentioned exp, please let me know if it is a must to work for a broker or a sub-broker to get sub-brokership. I have worked in call center, software and now working as a marketing consultant to a US firm. I have not worked in a stock market related firm, so is it mandatory I should have that exp or can I start without it?

I really look forward for a help from an exp person like you.

 

[gulshanranjan]

any memeber of traderji who recently started sub-broking, Pls do share ur experience here, so other can get benefited...

 

[pali.sembhy]

if ur r planning for sub broker let me show u the right path. if u r interested to become sub broker n looking for right broker ur search ends here.
plz mail me at [email protected] , also mention ur phone number and location!
i will revert with the BEST PROPOSAL.ITS A PROMISE!

 

[bbboy]

Dear All,

come up with all ur questions abt starting ur own sub-broing, experiences, doubts, problems, query. i will try to help with my limited knowledge & personal experiences. i am bangalore based & my information wil b more relevent for user in bangalore & new delhi only.

Can u guide me ?

I am in talks with one brokerage house for sub-brokership.

They told me that there are 2 kinds of registration and I can go for anyone but both are same in terms of work etc :--

1) Register thru us and they will register directly in excahnges like NSE BSE MCX etc..
for this they will charge Rs.2206 each per segment ( Segment : NSE-cash, NSE F&O, NSE-Currency, BSE, MCX-Commodity, MCX-Currency, NCDEX ) so if i will go for all these then it will cost me Rs.2206 x 7 (segment) = Rs.15442.

2) Another way is that I can Directly register myself with SEBI and after that I can become there sub-broker for this I need to pay Rs.12250 per segment directly to SEBI.

So, now my Question is that what is the diffrence between these two diffrent type of registrations for sub-broker ?
As per that brokerage house marketing person he said that there is no diffrence, and infact he said that if I go directly for SEBI registration then it cost me much more per segment wise and it take around one whole year to get the registration certificate.

I am confused and feeling handicapped b'coz no proper information is available and I cant 100% trust these marketing persons of brokerage house.
Why there is so much diffrence in amount of direct SEBI registration and registartion thru brokerage house / exchanges ?

If I register thru brokerage house then they will register me direcly thru NSE, BSE and MCX exchanges. Is there any problem in that ? any kind of trap in future ? Is it legal in this way ? or in future I get in trouble
Or This brokerage house will take any kind advantage in future by saying that I am not registered yet and they takeover my clinets or not pay me fully or any kind of problem etc...

Pls. can some experienced sub-broker put some light on this issue ? As I am totaly confused.

Pls. guide
Thanks in adavance

 

[VijayDT]

Can u guide me ?

I am in talks with one brokerage house for sub-brokership.

They told me that there are 2 kinds of registration and I can go for anyone but both are same in terms of work etc :--

1) Register thru us and they will register directly in excahnges like NSE BSE MCX etc..
for this they will charge Rs.2206 each per segment ( Segment : NSE-cash, NSE F&O, NSE-Currency, BSE, MCX-Commodity, MCX-Currency, NCDEX ) so if i will go for all these then it will cost me Rs.2206 x 7 (segment) = Rs.15442.

2) Another way is that I can Directly register myself with SEBI and after that I can become there sub-broker for this I need to pay Rs.12250 per segment directly to SEBI.

First of all, SEBI has never registered Sub-brokers "directly", it was always through an exchange member. Currently SEBI has discontinued Sub-broker model, and now have asked exchanges to register intermediators as "Remisar" or "authorised person". Again this will be through an exchange member (Broker) that your application would be accepted, and you will get registration. Once you get registration you can start trading for your clients. It is always safe to do this registration through a reputed broker--avoid local brokers. Anyway you will need a good brand to attract customers. My suggestion would be to go for Angel Broking or India Infoline, they are number one and number two respectively in sub-broker business.

 

[bbboy]

[/QUOTE = VijayDT
First of all, SEBI has never registered Sub-brokers "directly", it was always through an exchange member. Currently SEBI has discontinued Sub-broker model, and now have asked exchanges to register intermediators as "Remisar" or "authorised person". Again this will be through an exchange member (Broker) that your application would be accepted, and you will get registration. Once you get registration you can start trading for your clients. It is always safe to do this registration through a reputed broker--avoid local brokers. Anyway you will need a good brand to attract customers. My suggestion would be to go for Angel Broking or India Infoline, they are number one and number two respectively in sub-broker business.[/QUOTE]

~~~~~~~~~~~~~~~~~~

Thanks for reply,

Pls. also tell me how much angel broking sub-brokers getting ? i mean the proper deal ? how to go for that ?

1) pls. explain brokerage structure on sharing basis in %
2) fixed brokerage plan etc.. ?

also tell me more detail which i must keep in mind before getting into any kind of deal with any broker

one more thing i want to ask for is i need to clear BSE exam also for taking BSE terminal/ segamnt ?? like NCFM for NSE ???

Thanks in adavance
:clap:

 

[VijayDT]

[/QUOTE = VijayDT

....

Thanks for reply,

Pls. also tell me how much angel broking sub-brokers getting ? i mean the proper deal ? how to go for that ?

1) pls. explain brokerage structure on sharing basis in %
2) fixed brokerage plan etc.. ?

also tell me more detail which i must keep in mind before getting into any kind of deal with any broker

one more thing i want to ask for is i need to clear BSE exam also for taking BSE terminal/ segamnt ?? like NCFM for NSE ???

Thanks in adavance
:clap:

It is my pleasure if I can be of any help to you. Please contact the nearest branch office of Angel for commercial terms, this you can find on their website in "contact us" section. The sharing of the brokerage will depend on the total volumes and the number of customers you would bring in. It will also depend on the quality of business that you will bring in and the potential you would be able to tap in near future(like HNI, delivery based volumes, frequent trader, etc.). Ideally, it would be "the 65:35" ratio were 65% would be given back to you. It can go to 70% in some cases. On the fixed term basis, it should be 0.015% and 0.10% for trading and delivery respectively. My belief is that more than the brokerage you should check whether they will help you grow your business, like they should assist you to get good staff, train them and help you in marketing your service, especially "on-line" services. My experience with Angel has been good, but at the end of the day it depends on branch to branch. Hence before taking a plunge, please ensure that you are associated with a right branch. They have good centralise resources for training and giving sub-broker tools for tracking their business. I think that will help you to build a right business model suited to you.

On the NCFM piece, I think NCFM is good enough to get BSE as well as NSE terminal. I hope this helps: all the best!!

Best wishes,
VDT

 

[bbboy]

It is my pleasure if I can be of any help to you. Please contact the nearest branch office of Angel for commercial terms, this you can find on their website in "contact us" section. The sharing of the brokerage will depend on the total volumes and the number of customers you would bring in. It will also depend on the quality of business that you will bring in and the potential you would be able to tap in near future(like HNI, delivery based volumes, frequent trader, etc.). Ideally, it would be "the 65:35" ratio were 65% would be given back to you. It can go to 70% in some cases. On the fixed term basis, it should be 0.015% and 0.10% for trading and delivery respectively. My belief is that more than the brokerage you should check whether they will help you grow your business, like they should assist you to get good staff, train them and help you in marketing your service, especially "on-line" services. My experience with Angel has been good, but at the end of the day it depends on branch to branch. Hence before taking a plunge, please ensure that you are associated with a right branch. They have good centralise resources for training and giving sub-broker tools for tracking their business. I think that will help you to build a right business model suited to you.

On the NCFM piece, I think NCFM is good enough to get BSE as well as NSE terminal. I hope this helps: all the best!!

Best wishes,
VDT

Thanks a lot :clapping: